Elliott Investment Management Acquires Majority Stake in American Greetings
- Editor
- Feb 3
- 1 min read
What's Happening: Elliott Investment Management has successfully completed its acquisition of a majority ownership stake in American Greetings, a global leader in the Celebrations marketplace. The transaction, which was announced on December 20, 2024, has received all necessary regulatory approvals and met closing conditions.
The Key Moves:
Elliott acquires majority ownership of American Greetings, a global leader in the Celebrations industry.
Clayton, Dubilier & Rice (CD&R) and the Weiss family will maintain a significant minority ownership interest in the company.
The acquisition aims to leverage combined strengths for growth and innovation in the Celebrations marketplace.
By The Numbers :
Elliott Investment Management manages approximately $69.7 billion of assets as of June 30, 2024.
American Greetings was founded in 1906 by Jacob Sapirstein.
The transaction was announced on December 20, 2024, and has now been completed.
Key Quotes:
Joe Arcuri, CEO of American Greetings: "Elliott shares our vision for growth and innovation, and together, we will leverage our combined strengths to create greater opportunities to drive growth that will benefit all our stakeholders."
Paul Best, Senior Managing Director at Elliott: "We are looking forward to partnering with the American Greetings leadership team, CD&R and the Weiss family, and using our sector and international experience to support the next phase of the company's growth."
*KQ3*
The Bottom Line: The acquisition of American Greetings by Elliott Investment Management marks a significant shift in ownership for the global Celebrations company. With Elliott's financial backing and strategic support, combined with the continued involvement of CD&R and the founding Weiss family, American Greetings is positioned for potential growth and innovation in the evolving Celebrations marketplace.
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